Sub-sea Thermal Insulation Materials Market to Observe Strong Development by 2024
Sub-sea
thermal insulation is a thermal insulation coating applied to
components and structures that are immersed in cold deep water. This
type of insulation provides thermal stability and enables smooth
operation of sub-sea components. Most sub-sea pipes, components, and
systems are used for oil & gas applications. Without proper
thermal insulation, the oil flowing through these equipment and
components cools and starts to hydrate, forming waxy deposits and
obstructing the oil flow. Led by the ever-increasing demand for oil &
gas, exploration companies are venturing into arctic environments and
deep-water regions. Thus, the usage of thermal insulation has become
mandatory in several drilling applications. Sub-sea thermal
insulation is primarily made up of polyurethane, polypropylene, and
epoxy. Several other materials such as aerogels and silicone rubber
are also being developed and used.
Read
Report Overview @
The
sub-sea thermal insulation materials market is largely driven by high
demand from the oil & gas industry. Oil exploration companies are
compelled to drill deeper for crude oil and gas due to the rising
demand for energy and depleting oil & gas reserves. This has
boosted the demand for sturdy, reliable, and versatile insulation
materials. With no viable alternative to the existing insulation
techniques, the demand for sub-sea thermal insulation is estimated to
rise during the forecast period. Despite the excellent thermal
insulating properties, some of these insulations are brittle, while
some exhibit high water absorption rate. Others have high thermal
expansion after curing or are costlier. This may restrain their
growth. Furthermore, the installation process is lengthy, time
consuming, and costly. This hampers the market. The repair of the
damaged insulation section is also difficult and expensive.
Based
on material, the sub-sea thermal insulation material market has been
segmented into silicone rubber, polyurethane, polypropylene,
aerogels, epoxy, and others. Polyurethane foam is a widely used
commercial insulation material due to its low thermal conductivity
and flexibility. Furthermore, installation of polyurethane foam is
easier and cheaper. Syntactic polypropylene is also a close
alternative to polyurethane foam insulation due to its high melt
strength and resistance to creep. Based on application, the sub-sea
thermal insulation materials market has been divided into pipe,
joints, pipe cover, equipment, and others. Sub-sea thermal insulation
materials can be used as pipe-in-pipe insulation, wet insulated
pipes, and flexible insulated pipes. Wet insulated pipe is the
preferred type of insulation, as it is lighter, cheaper, reliable,
and can be applied easily to intricate joints, equipment, and pipe
bends. On the other hand, the insulation material is well protected
in between the pipes in pipe-in-pipe insulation. This increases the
overall lifespan of the pipe.
Geographically,
the sub-sea thermal insulation materials market has been segmented
into Asia Pacific, Europe, North America, Latin America, and Middle
East & Africa. Middle East & Africa and Europe are the major
markets for sub-sea thermal insulation materials due to the high
number of offshore oil & gas exploration and drilling activities.
However, Asia Pacific is likely to witness significant demand for
sub-sea thermal insulation materials in the near future due to the
increasing demand for oil & gas in China, India, and ASEAN. Rise
in demand for energy in North America is projected to propel the
demand for sub-sea thermal insulation materials in oil & gas
production during the forecast period.
Request
to view Sample Report:
Key
manufacturers of sub-sea thermal insulating materials are Dow Corning
Corporation, Armacell, BASF SE, Bayer, Kaneka, and Covestro AG.
About
Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants
use proprietary data sources and various tools and techniques to
gather and analyze information.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact
Transparency
Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel:
+1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Comments
Post a Comment